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16 January, 21:56

A company had beginning inventories as follows: Direct Materials, $300; Work-in-Process, $500; Finished Goods, $700. It had ending inventories as follows: Direct Materials, $400; Work-in-Process, $600; Finished Goods, $800. Material Purchases (net including freight) were $1,400, Direct Labor $1,500, and Manufacturing Overhead $1,600. What is the Cost of Goods Sold for the period?

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  1. 17 January, 00:07
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    Cost of Goods Sold is $4,200.

    Explanation:

    Cost of Goods Sold

    Beginning Direct Materials $300

    + Material Purchases $1,400

    - Ending Direct Materials $400

    Total material Cost $1,300

    Direct Labor $1,500

    Manufacturing Overhead $1,600

    Total manufacturing Cost $4,400

    + Beginning Work-in-Process $500

    - Ending Work-in-Process $600

    Cost of Goods Manufactured $4,300

    + Beginning Finished Goods, $700

    - Ending Finished Goods, $800

    Cot of Goods Sold $4,200
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